Many people dream of owning a vacation home. That’s especially true during the long winters when thoughts turn to escaping the cold and retreating to a home in a warm, sunny location.  But is buying a vacation home a good idea? 

Kate Ashford, writing for Forbes.com, offers nine things you should consider before buying one.  These include considerations related to location and lifestyle, of course.  But the biggest issue is cost, both the purchase price and the ongoing impact on your finances.  There are also tax implications with a second home which could surprise you if you’re not prepared for them.  Take a look at the article here, then talk to both a real estate professional and your accountant or tax advisor.

If it all adds up to a “Go,” enjoy a sunny second home of your own. But, if renting is the more prudent choice, you can relax knowing that your vacations will forever be truly carefree!

Tags: Forbes, forbes magazine, vacation homes